By Wendy Van Sickle
Columbus, Ohio, March 31 – Sun Country, Inc. sold a $172.51 million two-tranche issue of enhanced equipment trust certificates, according to a company news release.
The company priced $142.83 million of 4.84% mesa pass-through certificates, class A.
Also priced were $45,447,00 of 5.75% mesa pass-through certificates, class B.
Sun Country plans to use the proceeds to obtain financing secured by 12 Boeing 737-800 aircraft.
The company expects to receive an additional $15.77 of proceeds in respect to a 12th aircraft by Sept. 15.
The notes were sold in a private placement.
Sun Country is a subsidiary of Sun Country Airlines Holdings, Inc. The hybrid low-cost air carrier offers scheduled service, charter and cargo businesses and is based in Minneapolis.
| Issuer: | Sun Country, Inc.
|
| Issue: | Enhanced equipment trust certificates
|
| Amount: | $172,507,000
|
| Announcement date: | March 31
|
|
|
| Class A certificates
|
| Amount: | $142.83 million
|
| Coupon: | 4.84%
|
|
|
| Class B certificates
|
| Amount: | $45,447,00
|
| Coupon: | 5.75%
|
|
|
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